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cliff. congress now has 35 taser to come to an agreement on deficit reduction. if they don't spending cuts will go into effect on january 1st and both parties say they are ready to compromise. the number of deadly crashes were up but dui arrests were actually down slightly. the chp said 31 people were killed including 6 between wednesday morning and today. many of those people were not wearing those seat belts. 224 people were arrested on suspicion of dui and that compares to 227 last year. i definitely remembered to put on a seat belt this morning. fog is a major problem in many areas, right tara? >> reporter: the fog is taking hold in oakland, vallejo, and san francisco county so definitely take your time and here is a look, fog has just settled in there and traffic is going well, westbound are those headlights as you make your way towards concord. you can barely see anything and you can make out those headlights and at the bay bridge toll a plaza where a fog advisory is in effect for this span. every area does except for the west side of the dumbarton we are told there is some fog
sending the country off the fiscal cliff. congress has 45 days to come to an agreement on deficit reduction and if they don't spending cuts will go into effect january 31st. both sides are willing to compromise. >>> it is my decision to put them down and violate the pledge, long story short only if democrats will do entitlement reform. >> the key sticking point is what 0 do -- to do about taxes. they want to raise taxes and republicans don't want to. they are willing to cap certain deductions. >>> and perspective police officers, you can start applying for jobs at the san francisco police department this morning and they will start accepting applications for entry level police officers. eligible application cans have to be at least 20 years old, have a valid california driver's license and high school diploma or equivalent. it will end on friday december 7th and the starting pay for a san francisco police officer is 88,000 dollars a year. well for the san francisco 49ers there are quarterback questions all over again. it happened for the second straight game for the quarterback a
much can evidence of real progress on avoiding the fiscal cliff. members of congress expect optimism today about the prospects of reach ago deal to avoid the sear of tax increases and spending cuts. democrats and the president wants to raise tax rates for the wealthy, republicans don't. there are more now breaking with grover nord qwest had gotten a majority of republican lawmakers to not support any effort to raise taxes. this morning, senator lindsey graham said that for the good of the country he is ready to violate the antitax pledge. >> i think grover is wrong when you can't cap deductions and buy down debt. i want to buy down debt and create jobs but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> it's not clear when lawmakers and the president will meet next. >> fans of comediancast william are suing him after a performance in oklahoma. >> we now know what is behind a gas explosion in massachusetts. >> the items you'll most likely see the biggest discounts on cyber monday. >> leigh: ifit's a dry weekend.
the market really concerned with about the fiscal cliff. congress was away last week. there wasn't any talk about the fiscal cliff. we'll see what happens this week because these negotiations continue. but those shopping numbers have given people a lot of reason to think maybe there's some good news out there. we see the numbers coming in on this today, cyber monday,s biggest online shopping day. $1.5 billion in sales. chuck, i will admit, on amazon this morning, i got shut out by the deals i wanted to get. hey, it's worth a try. >> i guess you have to right that "r" button, refresh. thank you, becky. >> thank you, chuck. >>> one of the tasks of political strength, how do you fare in unfriendly it territory? in today's deep dive we're taking a look at the democratic senators holding seats in some of the reddest presidential spots on the map. take a look at this. in the new congress a dozen democrats will hold seats in states that voted for mitt romney. one in alaska, ed north dakota, south dakota, missouri, arkansas, louisiana, indiana and north carolina. democrats hold both senate seats in
.s., congress returns from a thanksgiving break he with talks to resolve the fiscal cliff. with no action by lawmakers and president obama, around 600 billion in tax hikes a and spending cuts would take effect in january. republicans and democrats are still in odds over the cause to raise taxes on the wealthiest and cutting on programs like medicare. but both sides saying they're willing to compromise. >> you have to raise additional revenues. there are ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> the house speaker has called for a short term fix to overt the fiscal cliff so congress can work on a bigger deal in 2013. they naed to cut out a package that includes revenue hikes and spending cuts by the end of the year. >> americans have been out shopping early and often. almost 140 million kmers hit the stores or shopped online between thursday and sunday. that's up 6% from last year. >> almost a quarter billion shoppers will have been onlin
regardless if congress solves the fiscal cliff crisis or not. one of the top economists, martin feldstein of harvard university, joins me now. >> it's good to be back. cheryl: you were with ben bernanke last week. there were two questioners talking to mr. ben bernanke. he has been very vocal in his call for congress to fix the fiscal cliff. you are a little bit more negative than your colleagues. why is that? >> well, what he said is if we go over the fiscal cliff, the economy will drop into a recession and the fed does not have the ability to stop that. now the question is, what if we do not hold the fiscal cliff but some of the other things that are being talked about, like the president's plan, what would happen then? the president's plan to raise taxes on high income individuals, cutting deductions for high income individuals, raising the corporate tax rate read a long list of that sort. eliminating the payroll tax holiday. that would take about 2% out of the gdp next year. we are struggling to reach 2%. as we would basically be on the edge of an economic downturn we are sure to go in
cautious, concerned about the economy and the gridlock in congress over the fiscal cliff. >> they're going to be pulling back a little because they don't know what to expect for 2013 and they want to remain cautious as we move forward into the next year. >> kristen dahlgren reporting. congress returns to work this weekend, stim facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more than in taxes next year. that's coupled with $100 billion in cuts to domestic and defense spending. since the reagan era, most republicans have pledged not to raise taxes. but as nbc's mike viqueira reports, there are some signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed, to oppose tax increases of any kind. that once solid wall was showing cracks. >>> the pledge you saw 18 years ago, 20 years ago was for that congress. the world has changed and the economic situation is different. >> reporter: but republicans insist in return for defying party doctrine, democrats must agree to
have an averaged-priced home, the fiscal cliff negotiations could have a major impact on you. congress could limit the amount of home mortgage interest homeowners can write off their taxes. one proposal from the simpson/bowles commission would cap the deduction at $500,000. lawmakers may also limit tax breaks for second homes. distressed homeowners could also see major changes ahead. the mortgage debt relief act, which waives the tax obligation on portions of the mortgage s set to expire at the end of the year. and new estate tax rules will likely kick in. the exemption level drops back down to $1 million from the current $5 million. that's causing a mad scramble to pass real estate and other assets down to children and grandchildren, says maryland estate lawyer gary altman. >> i consider it a feeding frenzy of a tax break that's going to be going away. >> possibly the worst thing, though, for the housing market would be if there is in compromise and we end up going off that so-called fiscal cliff. then there would be a sharp cut in government spending pushing the economy into recessio
-called fiscal cliff. president obama expressing optimism they can come up with a deal to prevent automatic spending cuts and expiring tax breaks just into fox, the white house spokesman, jake carney, reports president obama spoke with the house speaker boehner and the senate majority leader harry reid over the weekend. still, concerns of the crisis and the european debt crisis sent stocks down but not precipitously but down. we are seeing signs of progress in washington, dc, with rare bipartisan consensus on raising taxes on the wealthy but they remain at odds over the specifics. in other words, exactly highway do you do it. and mike emanuel is live on capitol hill. the white house is expressing putting pressure on congress. >>reporter: a report on the impact if the bush tax cuts are not extended. the study says the typical middle class family will see taxes go up by $2,200 next year affecting businesses and retailers. the argument is the families will spend less and it will hurt the economy. >> you can see it across housing, and services, and things like paying for cell phone, groceries,
democrats are not helping. >> the fiscal cliff started before the new congress comes in, spending is something the new congress ought on take care of. that's what we elected them to do. let's talk about the fiscal cliff, solve this problem, move on to the next one, solve this problem involves higher taxes for some americans. >> but you know perfectly well, rick, the only rev lleverage yoe right now in order to cut spending is the tax issue. if you separate them, you raise taxes. when do you think spending cuts are ever going to come? you really believe they'll do it? >> i absolutely believe. i've been fortunate enough to spend time with the administration. i believe this administration spends there are spending problems and they want to address them. i believe they're willing to sit down and put everything on the table. i think we have to stop this mrilg gamesmanship -- >> they said they're taking social security off the table. they just said that. >> as far as the fiscal cliff goes. what they want us to say is we agree to higher taxes today for the promise of looking at spending
in congress over the fiscal cliff. >> they're going to be pulling back a little because they don't know what to expect for 2013, and they want to remain cautious as we move forward into the next year. >> that was kristen dahlgren reporting. speaking of, congress returns from the holiday this week, still facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more in taxes next year, coupled with $100 billion in cuts to domestic and defense spending. now, since the reagan era, most republicans have pledged not to raise taxes. as mike viqueira reports, there are signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed. to oppose tax increases of any kind. that once solid wall was showing crass. >> the pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed, and the economic situation is different. >> reporter: but republicans insist in return for defying party doctrine, democrats must agree that changes in social security and medicare. >> i
quickly face the challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration will reduce federal funding direct to san francisco by at least 26.5 million dollars a year, every single year. we would see over $5 million of cut to education, and almost $3 million of cuts from public housing. san francisco's allocation of medicare would be cut by $2 million. funding for the wic workforce program would lose almost $5 million. there would be a $1 million cut to housing services for people with hiv and aids and more than $1 million cut to the community development block grant program. ladies and gentlemen
chairman talked about the fiscal cliff urging congress to negotiate a deal that will begin to take effect next year. he said the central bank will aid recovery but can't offset the full force of the fiscal cliff. from the economic club of new york this is about>> thank you very much. 50 minutes. good afternoon. it is nice of you to join me for lunch at this intimate gathering. i know many of you and your friends and neighbors are recovering from the events of hurricane sandy -- i want to let you know our thoughts are with everyone who has suffered during the storm and its aftermath. it has been a very challenging time for new york city. i think you have shown quite a bit of fortitude in coming back and getting back to business. my remarks today are going to focus on the reasons for the disappointingly slow pace of economic recovery in the united states, and the policy actions that have been taken by the federal open market committee to support the economy. in addition, i will discuss important economic challenges our country faces as we close out 2012 and move into 2013, in particular the
of tennessee calls on congress to settle the fiscal cliff, kicking the can down the road is misguided and irresponsible and shows a lack of courage. senator corker good morning. >> good morning. hi, charlie. >> it's going to have you here. are you prepareds, as others are doing, to sort of say i'm going to forgo the pledge because it is outdated and the country's problems are too big? >> well, i'm not obligated on the pledge. i made tennesseans aware, i was jus elected, the only thing i'm honoring is the oath i take when i'm sworn in this january. i've laid out the bill 242 pages long. not long. it's got $1 trillion in revenues, really entitlement reare to the other side of this equation, but no congress in history is more prepared to make these decisions. we've had two dry runs. we've litigated this and gone through every single score of never single decisions that has to be made. the last thing we need to do right now is kick the can down the road or create some process for next year. >> can you do that between now and -- >> absolutely. >> -- january 1st? >> c
journal," matt lewis looks up the future of the republican party. congress debates the so-called fiscal cliff, and the wall street journal correspondent discusses the options concerning a shortfall in the administration budget. british prime minister david cameron and ed miliband who agreed international pressure must be put on israel and hamas to end the violence in the region and work to a two-state solution. the remark came during a session of the house of commons. also discussion of recent elections for local police commissioners. this constituency and elsewhere. >> questions for the prime minister first from hunt. >> thank you, mr. speaker. before listing my engagements the house will wish to join me in sending our sympathies and condolences to the family of captain walter berry of first battalion at the royal richmond of scotland. he was described as a fantastic, engaging and professional soldier. he will be truly missed byll who knew him. our nation must never forget his service and sacrifice. this morning i had meetings with many and in addition to my duties in the house, first
this morning. congress is back in session, and just in time, we are now 35 days away from the fiscal cliff. >> a big day in the middle east. today both israel and gaza meet to further the cease-fire between the two embattled nations. we're going to have a live report coming up for you. >> gray thursday, black friday, and now cyber monday. but just how good are the deals today, compared to what was put out this past holiday weekend? we're going to break it all down for you. >> did you do any shopping? >> absolutely not. there's too much football. >> don't you love it? >> good morning. welcome to "early start," i'm john berman. >> and i'm zoraida sambolin. 5:00 a.m. in the east. so let's get started. they are back. our lame duck congress returning to capitol hill today. the senate in session this afternoon. the house back tomorrow. and with 35 days left, as john just reminded us, before we plunge down the fiscal cliff, two prominent republican senators, lindsey graham and saxby chambliss are signaling they are willing to give a break the no tax pledge. that is a hopeful sign, folks, because
: president obama and congress begin negotiations this week to avoid are the coming fiscal cliff, about $6 billion in tax hikes and spending cuts that will kick in. both sides say they're looking for ways to compromise. >> that's what it's about, if regan and o'neill can do it, obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key is whether or not the republicans will move away from the id logically rigid tradition which was the grove pledge that they will not go for additional revenue. >> reporter: for the first time the antitax pledge seems to be negotiable. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid the coming grief and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >> i would be very much opposed to raising tax rates, but i believe we can close a lot of loopholes. >> reporter: and democrats say just closing loopholes and cutting deductions isn't enough. >> we have to raise additional re
and consumers. it states if congress fails to avert the fiscal cliff, taxes would rise by $2,200 for 98% of americans. the president wants democrats and republicans to agree on renewing tax cuts to give families and business morse certainty about the economy. but he wants those with incomes over $250,000 a year to pay a little more in taxes as we all know. which has been a sticking point with the gop. but now some republican lawmakers who earlier pledged to not vote for anything with a tax increase now appear ready to relink wish that pledge in order to avoid the looping fiscal crisis. >> i would be very much opposed to raising tax rates, but i do believe we can close a lot of loopholes. >> they have to go up either real tax rates or effective tax rates. there is ways of doing that. secondly, though, we've got to close significant loopholes. >> bottom line, getting back to the report, the president is asking congress it act now specs tend the tax cuts for the middle class. they say the holiday season is not a time to threaten middle class pocketbooks. back to you. >> steve: thanks very
. president obama and congress begin negotiations this week to avoid the coming fiscal cliff. about $600 billion in automatic tax hikes and spending cuts that will kick in at year-end. both sides say they're looking for ways to compromise. >> that's what representative government should be about. no one gets all they want. if reagan and o'neill could do it, boehner and obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key here is whether or not the republicans will move away from the ideologically rigid position which has been the grover/norquist pledge which most of them signed that they will not go for additional revenues. >> reporter: for the first time, even the anti-tax pledge appears to be negotiable. several republicans are indicating they're open to breaking that promise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes. >
of the year the fiscal cliff what is congress and the president going to do? taxes are going up. you look at the spending problem, you let taxes go back to people making over $250,000 per year. much of its revenue, still leaving it short of closing the deficit by close to a trillion dollars. it is all about tax rates. cheryl: it is about tax rates, but you're telling your clients stay focused, stay balanced in your portfolio, don't make any big changes but you also said in the last four months while a toady is in the market and also the gdp will shrink no matter what happens in washington with the fiscal cliff. >> i don't think we will have gdp, not part of our assessment. we see a very significant drag for all the right reasons. if you're fiscally conservative for example and you look at what has to happen here, we're spending and the deficit has to be reined in. you might look at stocks and say after 10 years or 12 years, a very inexpensive stock market compared too many other asset prices, you have to have a bullish longer-term point of view. this is a significant change in terms of th
and congress and not the president if these fiscal cliff talks fail. are we seeing a white house not willing to lose this pr war no matter the outcome of the talks? >> i think you're seeing a gop that has yet to accept the election results, sort of negotiating with themselves about what they will and won't accept without acknowledging the polls you just cited and the other thing is a strong majority actually also wants a deal. they want a compromise, a balanced compromise. as the republicans are negotiating with themselves over here, the administration and the rest of america is kind of in another place and i think the administration rightly so and remember this was an issue when the president was first elected, there were questions about whether or not he would use the power of that database of people. i think it is a great thing and i hope he does it because i think it is important people you said outside of washington know the kinds of gains going on on capitol hill and the things this people voted for not being acted upon by republicans. >> as i was talking with congressman van holen, ag
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if congress does nothing which they're pretty good about these days. we will go over the fiscal cliff. >> staffers have a working behind the scenes to find common ground to avoid cuts that should be concerning for everyone. >> they should be worried if we have a defense job or if we are dependent on others of the federal budget. the regulation of our food safety, and our borders being secure. or fbi. >> the sticking point is what to do about taxes. the democrats want to raise taxes for the wealthy and republicans to not. the anti-tax crusader had gotten a majority of the " law makers to pledge not to support any effort to raise taxes. >> i'm willing to recorgenerate revenue. where is below but i will not raise tax rates to do it i will cap deductions, and violates the pledge, long story short. for this country of democrats will do entitlement changes. >> is not we clear when it will meet next a deal could be well off. >> we rarely see the will and the white house make decisions, early. i would be pleasantly surprised to see a deal emerge earlier than at the end of the year but we will
falling off the fiscal cliff, how to prevent it from happening, and the impact not as on the fence of the discretionary budget as well, and for our purposes, hopefully they will also take the time to pass a defense authorization in order to be able to set some important policy guidance we need as we go into this next year. the hope is these issues can be resolved before congress adjourns, and we are all hopeful the leadership will be able to come together to find a way to resolve these issues. these are tough decisions. i know how tough they are, but they can do it. it will take some risks, but that is part of the game. you have to take risks to do the right thing, and i hope they do that. the worst thing that can happen from my perspective is they just kick the can down their road. all that would wind up doing is continuing to present a shadow as to what ultimately will happen, and that is the last thing i need. the fact is when it comes to national security, which challenges and opportunities we face in the future go beyond the political gridlock of the moment. they are significa
it wouldn't be so bad if we went over the fiscal cliff and kicked the can down the road to the next congress which will be more favorable from the liberal perspective to negotiating on these big picture issues. frankly, i think it would be harder to have a compromise on son-in-law of the entitlement reform that republicans want to see, at least some movement before they will agree before this talk of raising taxes will be anything more than the lip service that you mentioned. >> okay. so ken is suggesting there it's in republicans' interests to do a deal now. jared, the white house is warning today, and you mentioned it earlier, of dire consequences if the bush tax cuts for the middle class expire. a hit to consumer spending something like four times the revenue of black friday. jared, do you think that republicans would risk that kind of disaster to protect the top 2% who frankly can afford to pay a little bit more. >> i fear there is a significant bloc of republicans in the house who, frankly, might make that kind of a terrible deal for america, and you teed it up exactly right. you're tal
's how congress rolls. and now with just 36 days remaining to avoid the so-called fiscal cliff, senators are coming back to work. the house returns tomorrow. the white house is working both sides of the beltway to maintain bush-era tax rates for the poor and middle class, while letting those lower rates expire for higher earners. this morning, the white house put out numbers claiming if we fall off the cliff, consumers will be spending less money next year. how much less, exactly? $200 billion in fiscal 2013 alone. that would be a huge, huge hit on retailers. now, tax hikes are the biggest part, but not the only part of the fiscal cliff. seeing it as a fiscal cliff, the new year will also bring more than $100 billion in spending cuts, if -- if congress and the president can't agree on some other course. all of this brings me to my friend, cnn's christine romans with details on the toll on consumer spending. we threw out the number, $200 billion. what does that mean? >> it comes straight from the white house, trying to ride the coat tails of black friday weekend when throwing around how m
and they are ready to tackle the fiscal cliff crisis. lawmakers are ready tro compromise. >> lawmakers are ready to give in on tax changes in order to get some sort of a deal done. kelly wright joins us with more on what it means for the negotiation. we could be looking at possible tax hikes, isn't that right? >>> oo the government is on automatic pilot. that is five weeks away. for congress there is much work to be done and more compromise to be made in order to avoid the fiscal cliff. it will require give and take negotiations particularly on raising taxes but republican law americas who pledged to not vote for anything with a tax increase now appear ready to relinquish that pledge in order to avoid the looming fiscal crisis. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the grief and republicans should put revenue on the table. >> so everything is on the table and campaign raising taxes on the wealthy is relying on treasury secretary tim geithner. his team will works on issues like medicare even social security. they hoping to avoid a repea
days to go before automatic increases and spending cuts known as the fiscal cliff go into effect this is a live look of the senate floor, you see mcconnell the minority leader speaking now. president obama and congressional leaders are not expected to meet this week they want give staffers more time to work through differences first. the president is expected to hit the road to lied public support for his proposal. -- road to mobilize public support for his proposal. >>> current secretary of date will be termed out in 2014, if elected, ye hopes to expand california's online voter registration program into an online voting program. >>> that fog is hanging tough today itch >> worst spot is sfo, just a quarter mile visibility there, sunny and -- sunny and 60 in san jose now. fog in the north bay improving, we are looking at oakland, with foggy conditions, and vollmer peak. a big change all straight ahead. >>> plus, the hidden dangers of those bouncey houses. new report on how many kids they send to the hospital. >>> some bay area school kids get a surprise visit from one of the star
increases and spending cuts known as the fiscal cliff go into effect this is a live look of the senate floor, you see mcconnell the minority leader speaking now. president obama and congressional leaders are not expected to meet this week they want give staffers more time to work through differences first. the president is expected to hit the road to lied public support for his proposal. -- road to mobilize public support for his proposal. >>> current secretary of date will be termed out in 2014, if elected, ye hopes to expand california's online voter registration program into an online voting program. >>> that fog is hanging tough today itch >> worst spot is sfo, just a quarter mile visibility there, sunny and -- sunny and 60 in san jose now. fog in the north bay improving, we are looking at oakland, with foggy conditions, and vollmer peak. a big change all straight ahead. >>> plus, the hidden dangers of those bouncey houses. new report on how many kids they send to the hospital. >>> some bay area school kids get a surprise visit from one of the stars ron: years ago i made a promise to pro
ahead on "starting point," congress, will congress come to a compromise, and avoid the fiscal cliff? or will we just go right over? we're going to talk to congressman bill pascrell who sits on the house budget committee. and emergency contraception for teenagers. the controversial new recommendation from doctors this morning. pizza palace gets the most rewards of any small business credit card! pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? ♪ ♪ [ male announcer ] you've been years in the making. and there are many years ahead. join the millions of members who've chosen an aarp medicare supplement insurance plan insured by unitedhealthcare insurance company. go long. [ gordon ] for some this line is a convenience. how you doing toda
, as well. those worries about the fiscal cliff, you know, the tax hikes, the spending cuts happening all at once. congress gets back to work this week, so, you know, investors are closely watching to see if they're going to be able to hammer out a deal. there are also worries about whether or not greece can can get another loan payment. so there are some questions there. that's weighing on the market, not giving much reason for investors to buy in, at least not yet, carol. >> alison kosik from the new york stock exchange. we'll be right back. >>> market update is sponsored by charles schwab. start trading with street smart edge today. 1-800-345-2550 when i'm trading, i'm so into it, tdd#: 1-800-345-2550 hours can go by before i realize tdd#: 1-800-345-2550 that i haven't even looked away from my screen. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that kind of focus... tdd#: 1-800-345-2550 that's what i have when i trade. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 ...helps me keep an eye on what's really im
duck congress returns this week with barely a month left to avoid the fiscal cliff of mandatory tax hikes and spending cuts. retiring senator joe lieberman today lamented the lack of bipartisanship on capitol hill. >> in my opinion the last two years, 2011-12 have been the least productive and most partisan and uncompromising in my 24 years here. the public seemed outraged at the status quo that produced so little. >> glor: newly elected senator angus king is vowing to help break the logjam by doing what so many others in congress will not, compromise. chip reid caught up with king on the streets of maine. >> if somebody comes to you and says i'm not going to compromise, what they're really saying is i have 100 percent of the truth. i'm 100% right. >> reporter: angus king says he's 100% certain of only one thing. that neither the democrats nor the republicans are always right. that is why when he takes his seat in january as the new senator from maine he will be doing it as an independent. >> the people are absolutely fed up with this nonsense. they have had it with washington not b
to the fiscal cliff? >> well, we're spending another meeting maybe on friday of this week. we have a situation where the republicans are talking about they are willing to accept more revenue, but they don't want higher tax rates. they want to eliminate deductions, while the president wants to increase the tax rate for those that make more than $250,000 a year. >> bill: we have been talking about that and i want your take too, i keep reading some of these stories about republicans have changed their minds now, but really they haven't, have they? they are really still saying we're not going to get rid of the bush tax cuts for the wealthiest of americans. where does the revenue come from? >> well, that's what jack [ inaudible ] will tell you. you can't eliminate enough tax breaks to eliminate the debt. >> bill: so they are not saying anything different, are they? >> they are saying a little bit more about revenues and breaking a little bit with grover norquist. but i think there's also the feeling that it will go to the last minute just like everything else doe
and congress begin negotiations this week to avoid the coming fiscal cliff. >>> a pilot from nevado and his passenger are recovering after making an emergency landing near the cal state campus. >>> from across the bay, to around the world, the stories that matter on eyewitness news this morning and i'm michelle griego. >>> good morning everyone, it's monday november 26th i'm michelle griego. >> that we could went quick. >> it did. >> i'm frank mallicoat. and a word of caution if your hitting the road this morning, take it slow out there because there's a whole lot of fog. >> visibility is especially bad on major bridges. cbs5 reporter, anne makovec is on the embarcadero near the bay bridge and we could hardly see it if some of the live shots. >> that's right. somehow i got through this morning. >> you know, that fog just does nasty stuff to our transmission. >> i know. hopefully we'll check back in with anne. >> you can't see it, you can barely see the lights because of the fog out there. brian hackney in for lawrence karnow this morning. >> we have dense fog around the bay area this mornin
negotiations this week to avoid the coming fiscal cliff. >>> a pilot from nevado and his passenger are recovering after making an emergency landing. >>> from across the bay to around the world, the stories that matter on eyewitness news this morning. >>> good monday morning everyone, november 26th. right after turkey day i'm frank mallicoat. >> and i'm michelle griego. time is 5:30. >> drivers be aware, if you're commuting this morning, a lot of heavy fog around the bay this morning. visibility is especially bad on major bridges. cbs5 reporter, anne makovec is on the embarcadero near the bay bridge with conditions. good morning. >> reporter: good morning very foggy at ground level. that is the bay bridge above me. you can't see it very well because of the fog. it is very heavy right now. you can just see the lights of the bay bridge. this is a warning really to all drivers. we took this video, about 40 minutes ago at the bay bridge toll plaza and you can see difficult for drivers right now. it's one of those situations where you're driving along and suddenly you hit that wall of fo
higher tax bills for 2013 if congress can't come up with a deficit reduction plan to replace the fiscal cliff. a family with a $40,000 to $65,000 in annual income would pay an average of $2,000 in additional taxes. >>> and if you don't want to sound smart, well -- >> that's easy. >> -- just quote what we're about to tell you. >> go over to louis. >> enough of the real sweet. let's go over to sweet boy lou, pretty boy lou, whatever you want to call him, at the water cooler. >> it's time to gather around the water cooler to check out how mitt romney spent his thanksgiving. >> that's what i want to know. i was just asking mika, i wonder. >> here he is smiling minus the dark suit. a little bedhead. they posted this photo on facebook with wife, ann, the morning after thanksgiving. he said i hope everyone had a great thanksgiving. on his facebook page, much to be thankful for this year. >> not for a lot of republicans, mitt. a lot of republicans aren't thankful right now. >> they look happy. >> things were a little less warm and cozy for joe biden for his annual trip to nantucket. he took an
a looming deadline, lawmakers from both parties seem optimistic about diffusing the fiscal cliff time bomb. >> unfortunately, for the last ten days with the house and congress gone for the thanksgiving recess there hasn't been much progress made. tomorrow there's no excuse. we are back in town. >> reporter: democrats want to raise taxes on the wealthiest americans and republicans who once refused to raise taxes on anyone ever are signaling their willingens to compromise. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the coming grove and republicans, republicans should put revenue on the table. >> the world has changed and the economic situation is different. ronald reagan and tip o'neill realized that in t '80s. already if republicans have to raise tacks they want democrats to scale back spending on social programs. >> entitlement reform is the only way we will really get the debt and deficit under control and we have to take it on. >> reporter: without a compromise, devastating across the board spending cuts and tax increases threaten t
-up demand. can we tell yet? >> one thing i'm worried about is the fiscal cliff issue, the tax increases and spending cuts that take place january 1 unless congress and the president reach a deal. businesses have been worried about that for months. maybe consumers are start-- maybe it's starting to creep into their thinking as well. we saw a weaker consumer sentiment number last week. that's thing to watch to worry about as we wonder what the holiday season will be like. >> brown: nariman behravesh, is it strange or do things really change? on the one hand, we want people to get out and spend, but on the other hand, we still talk about over-spending and spending money people didn't really have was part of the problem that got us into this state in the first place. so what's-- that sounds like a little bit of a disconnect. where are we on that? >> well, i think neil is right in saying consumer finances are in much better shape right now. so in that sense, the kind of spending we're seeing now is more sustainable. it's healthier in a sense. debt levels are down. people are not taking, say,
it is too late. >> here to talk about the campaign to avoid the fiscal cliff former pennsylvania congressman and navy three star admiral joe staff and republican strategist and former huckabee campaign manager chip saltsman. like like ae wanted like a couple billion dollars of ads wasn't enough during the campaign, we crave more. i don't know, do you think this can be an effective strategy to get people to pressure congress? >> i don't think it can be nor should it be. i think we have to keep our eye on the ball right now. we know what we have to do and it is $4 trillion of debt reduction over the next ten years and then we'll have what americans most need, a sustainable debt to gdp ratio. we have two leaders who have an effort to do a principle compromise and mr. obama who doesn't face another election, and mr. boehner who is head of a party somewhat chastised in the past election about appearing not to let washington work. if we can have the bipartisan compromise not dissimilar to the simpson-bowles national debt commission where we understand it is going to take revenue enhancements as we
cliff, saying the threat -- fiscal cliff saying this could drive people to spend less this holiday season if congress does not act by the end of the year, everybody will owe more in taxes come next april and that most certainly could affect people's spending habits now. >> i think it means they are not spending as much as they would because they still don't know what is gonna happen. >> congress only has 35 days to come to an agreement on deficit reduction. if they don't, automatic tax increases and spending cuts will go into effect january 1st. both parties say they are ready to compromise but still no real progress has been made. >>> 7:33. one bay area hospital demanding to be reimbursed by the los angeles dodgers for the treatment it gave to bryan stow, the giants' fan brutally beaten in l.a. brian flores is live at san francisco general hospital with more. >> reporter: hi, dave. san francisco general hospital is seeking a $1.2 million medical reimbursement from the dodgers for medical care of bryan stow. the hospital went to -- hospital went to u.s. bankruptcy court in order to
it in some way or another if we hit the fiscal cliff. how bad? how not so bad? just 35 days left for congress to reach a deal on the budget. now, if they can't, as you know, more than 600 billion dollars in tax hikes and spending cuts kick in. some states not waiting around at all. we decided to launch governor's on the edge. find out what the leaders of each state are doing all week long. finding out what they are doing in this period of tremendous uncertainty. we kick things off with pennsylvania governor thomas corbett in a fox business exclusive. and you are first up in governors on the edge week. thank you very much for joining us, governor. >> well, thank you for having me and thank you for having me first. liz: well, no problem, you know, we just wanted to know first off, i know you are being very proactive about it. is it a war room? is it a bomb shelter? where do you guys gather, look at the budget and say we don't know what's going to happen, let's prepare for the worst? >> the budget office is in one building. they come over to a big conference room that i have. we were going throu
of your thanksgiving weekend with us. if congress gets ready to really delve into the fiscal cliff and the scheduled cuts of sequestration, what is the goal of your organization? guest: the last couple weeks right after the election we have done nothing other than san the recovery comes as well as fighting about needing balance in terms of the budget. i do not even think the word is the appropriate word. what happens in december is the bush tax cuts for the wealthy expire, and they should expire. that has been litigated. in terms of what mitt romney's position was, what obama's position was -- the president, by the way, has gotten the greatest votes total for a reelection of any president in history. he was out there saying we need a balanced approach. we are getting out of a recession, it is still a very tenuous recovery, we need to invest in education, infrastructure. we need to find some revenues. that is part of the fight in washington in the next month. host: this so-called fiscal cliff -- you said the tax cuts should expire. what would be the impact of tax cuts expiring for t
's a republican. that thee gop's say fiscal cliff deal is what defined grover norquist. let's hear congressman pete king of new york, a republican. he was on meet the press yesterday. [video clip] >> i agree entirely it. if i were in congress in 1941, i would have signed a declaration of war against japan. i would not attack japan today. the world has changed. i think everything should be on the table. i am opposed to tax increases. the speaker and majority leader and the president will be in a room trying to find the best package. we should not take ironclad positions. i would say john boehner has put together pretty good package and has been conciliatory in his language. host: that was yesterday. we are asking republicans what you think about indications from some republicans that they are willing to break their anti-tax pledge. here's the washington post story -- we will go to the phones to hear from kiev and, joining us from stafford, virginia. good morning. caller: good morning. if you listen very carefully, peter keane and even saxon chambliss and lindsey graham all said the same thing.
it is thanksgiving, the fiscal crisis has still not been resolved. is it possible congress might drive us all over the cliff? joining us now, chad, great to see you. the consummate insider. we have burned up three weeks since the election. but only have five more to go, are we going to make it? >> that is the great untold story, there's not that much time after the election to get thanksgiving and christmas. we did not meet a goal after the election, finally had a meeting later in the week down in the white house with the congressional leaders, john boehner, harry reid, mitch mcconnell, and out for thanksgiving solely today are people trying to get back starting to draw the battle lines a little bit. we seem to have burned three weeks which is time is of the essence. david: i'm thinking three years ago obamacare on christmas eve, will it come down to that? >> maybe new year's eve january january 1, mandattry spending cuts kick in on the second of january. you hit on a very important point. congress only ask when there is the gamut swinging over their heads. they often do this around christmas tim
. >> bret: some of the back-and-forth on the fiscal cliff and negotiations that are upcoming. if the white house gets its way. all tax cuts on high income earners are let go, expiring, the bush era tax cuts, this is what you are looking at. according to the treasury department it costs the federal government 9.69 billion a day to run the government. the expiration would be $8.24 billion a year on the top earners. roughly $82.4 billion a year. $824 billion in ten years. that would per year run the federal government for 8.5 days a year. that is if the tax increase or tax cut expiring go in place. that's where we begin. juan williams and tucker carlson. tucker, set the stage for us. what is happening. >> you saw this clearly. the press secretary said this is what we want. the president accepts nothing less than raising taxes on the rich. people making over $250,000. republicans in the senate said what they want is unclear. what the president wants is bad. in any negotiation, the person who with the clear objective has profound advantage. in the senate, there are very clear point that they wo
, terrific panel on that. martha: as congress approaches the deadline for the fiscal cliff house majority leader eric cantor joins us live in "america's newsroom" to talk about the deadline, the negotiations, the concessions, what is this going to look like? we'll be right back. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. bill: now we have new questions about president obama's healthcare law. 16 governors refuse to set up state-run health insurance exchanges instead forcing the federal government to come up with a system instead. what does that mean for the law? steven moore senior economic writer wall street jr. matt mccall the president of penn financial group. gentlemen, good morning
on tuesday. the so-called fiscal cliff is the biggest item that is sitting on the congressional agenda. if president obama and congress don't reach some sort of deal, huge tax increases and spending cuts would automatically kick in january 1. todayself republica selveral red away from a pledge banning tax increases. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i want to cut rates to create jobs, but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> i agree with saxby chambliss. a pledge you signed 20 years ago, 18 years ago is for that congress. if i were in congress in 1941 i would have signed -- supported a declaration of war against japan. i'm not going to attack japan today. the world has changed. >> does it mean we might be closer to a fiscal cliff compromise? athena jones takes a closer look. >> reporter: that's, of course, the big question here. we know in the meeting the president had with
in january along with expiring tax provisions, part of the so- called fiscal cliff. that is tonight at 8:00 eastern on c-span. congress returns from a week long thanksgiving break this week. the house is back tomorrow to debate a number of bills. a major bill comes up on thursday when they will consider a visa program for students getting advanced degrees and computer science, engineering and mathematics. off the floor, democrats plan to let new leadership. that is scheduled for thursday. you can see the house tomorrow on c-span. the senate is back today at 2:00 eastern. they will finish work on what is called the sportsman bill, expanding hunting and fishing on federal lands. that begins at 5:30 eastern. you can see the senate live on our companion network, sees that2 -- c-span2. >> you listen to mayor bloomberg who says the damage was unprecedented. the previous high was 10 feet. for this high, the tidal surge was 14 feet. gov. chris christie said that the damage was unthinkable. at fires, hurricane force wind, massive flooding, some of. -- massive fires, hurricane force winds. the shu
with one big issue staring them in the face. how to avoid going over the so-called fiscal cliff? if they do not reach a deal your taxes could rise and sharp spending cuts would go into effect as well possibly triggering a recession. chuck todd is nbc's political director and chief white house correspondent. chuck, good morning to you. >> good morning, savannah. >> the goal here is to get a deal that reduces the deficit, and the battle lines have been pretty clear right now. the president campaigned rolling back the tax breaks for the highest earnings and republicans argued spending cuts are the way to get the deficit under control. are we starting to see a softening of those positions on both sides? >> reporter: here's what there's agreement on. both sides, both parties agree that the wealthiest have to pay more, and the question now and the sticking point at this stage is how do you go about making the wealthiest pay more? do you do it by raising the tax rates? that's what president obama wants to do. wants to raise the tax freights 35% where they are now up to where they were during the c
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